GET Stock QuotesNews18 APP
News18 English

SPONSORS

Powered by cricketnext logo
»
1-min read

GST Rate Cut on Man-Made Yarns to Give Immediate Relief: AEPC

AEPC also demanded that the government look into the issue of embedded taxes on exports.

PTI

Updated:October 8, 2017, 4:26 PM IST
facebookTwittergoogleskypewhatsapp
GST Rate Cut on Man-Made Yarns to Give Immediate Relief: AEPC
This image is for representational purpose only (REUTERS)
New Delhi: The lowering of GST rates on man- made yarns and job works on zari items and accelerated refunds will provide immediate relief to apparel exporters, the Apparel Export Promotion Council (AEPC) said on Sunday.

The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts as members, had on Friday last cut rates on 27 items.

These included lowering rates on man-made yarn to 12 per cent from 18 per cent as well as zari job work to 5 per cent from the 12 per cent earlier.

"The changes will give a great relief to the apparel industry for the immediate term as the sector has been facing severe liquidity crunch after the introduction of GST," AEPC Chairman Ashok Rajani said.

AEPC also demanded that the government look into the issue of embedded taxes on exports.

"Since the duty structure remains inverted with fabric at 5 per cent GST, we are hopeful that the embedded taxes arising out of this inverted structure will be refunded to exporters through appropriate mechanisms," Rajani said.
Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Jubilant Food 2,093.30 +149.95 +7.72
Yes Bank 349.35 +8.15 +2.39
ITC 274.55 +1.15 +0.42
ICICI Bank 353.60 +7.45 +2.15
SBI 309.25 +6.00 +1.98
Company Price Change %Gain
ICICI Bank 353.55 +7.45 +2.15
HDFC 1,900.45 +3.45 +0.18
Sunteck Realty 417.15 +18.95 +4.76
Power Grid Corp 196.00 -1.20 -0.61
Maruti Suzuki 9,321.35 -37.65 -0.40
Top Gainers
Company Price Change %Gain
Indiabulls Hsg 1,301.80 +58.10 +4.67
Adani Ports 433.45 +17.20 +4.13
Bajaj Finance 1,701.90 +41.20 +2.48
Yes Bank 349.35 +8.15 +2.39
ICICI Bank 353.60 +7.45 +2.15
Company Price Change %Gain
Adani Ports 433.75 +19.40 +4.68
Yes Bank 348.30 +8.05 +2.37
ICICI Bank 353.55 +7.45 +2.15
SBI 309.05 +6.30 +2.08
TCS 2,954.75 +44.65 +1.53
Top Losers
Company Price Change %Gain
Ambuja Cements 268.60 -7.05 -2.56
UltraTechCement 4,300.00 -108.65 -2.46
Infosys 1,143.45 -9.25 -0.80
Sun Pharma 572.10 -4.60 -0.80
Maruti Suzuki 9,323.95 -44.75 -0.48
Company Price Change %Gain
Infosys 1,143.25 -9.50 -0.82
Sun Pharma 572.00 -4.25 -0.74
Maruti Suzuki 9,321.35 -37.65 -0.40
ONGC 193.60 -0.45 -0.23
NTPC 172.35 -0.15 -0.09

Live TV